Drawback rule for granites
This query is : Resolved
11 January 2012
I Want to know the rules and procedure for Duty drawbacks for granites stones.
My Case : We used purchase i.e Import granite stone ( Raw Block ) from South Africa and manufacture various granite products such as monumemts, plaques,vases, Urns and so on and sell it i.e Export it to Belgium.
I would like to know about that whether Drawback rule and procedure applicable for granites business.
Please Kindly inform me about this to my email id tthaneshwarsharma@gmail.com
My Case : We used purchase i.e Import granite stone ( Raw Block ) from South Africa and manufacture various granite products such as monumemts, plaques,vases, Urns and so on and sell it i.e Export it to Belgium.
I would like to know about that whether Drawback rule and procedure applicable for granites business.
Please Kindly inform me about this to my email id tthaneshwarsharma@gmail.com
12 January 2012
Actually There are two types of drawback. One is called drawback under Section 74 of the Customs Act, 62 which allows drawback of duty paid on goods originally imported on payment of duty and subsequently re-exported. The manner and time limit for filing the claims are governed by "Re- export of Imported Goods (Drawback of Customs duties) Rules, 1995.
1. The other scheme is payment of drawback under Section 75 and Rules made thereunder at specified rated on export of goods manufactured in India. The manner and time limit for filing the claims are prescribed under the Customs and Central Excise Duties Drawback Rules 1995 as amended from time to time.
2. The Central government notifies the Drawback rates for various products either on a general basis (all industry rates) or for individual exporters( brand rates) as the case may be. Drawback sanctioned under section 75 has a two tier system involving (i) fixation of rates by the Directorate of Drawback in the Central Board of Excise and Customs and (ii) disbursement of drawback amount by the Customs Houses and/ Central Excise Commissionerate.
pls. provide ITC CODE of these 8 digit export product so that i post procedure in CA CLUB INDIA.
1. The other scheme is payment of drawback under Section 75 and Rules made thereunder at specified rated on export of goods manufactured in India. The manner and time limit for filing the claims are prescribed under the Customs and Central Excise Duties Drawback Rules 1995 as amended from time to time.
2. The Central government notifies the Drawback rates for various products either on a general basis (all industry rates) or for individual exporters( brand rates) as the case may be. Drawback sanctioned under section 75 has a two tier system involving (i) fixation of rates by the Directorate of Drawback in the Central Board of Excise and Customs and (ii) disbursement of drawback amount by the Customs Houses and/ Central Excise Commissionerate.
pls. provide ITC CODE of these 8 digit export product so that i post procedure in CA CLUB INDIA.
19 January 2012
Thank you for your reply. But please give some detailed information regarding benefit,
rules and procedures to be followed.
ITC CODE
For Import : 68029900 ( multi colour granite blocks )
For Export : 68022390 (All Polished Granite Monuments )
rules and procedures to be followed.
ITC CODE
For Import : 68029900 ( multi colour granite blocks )
For Export : 68022390 (All Polished Granite Monuments )
19 January 2012
Thank you for your reply. But please give some detailed information regarding benefit,
rules and procedures to be followed.
ITC CODE
For Import : 68029900 ( multi colour granite blocks )
For Export : 68022390 (All Polished Granite Monuments )
rules and procedures to be followed.
ITC CODE
For Import : 68029900 ( multi colour granite blocks )
For Export : 68022390 (All Polished Granite Monuments )
19 January 2012
IF YOU IMPORT THROUGH THIS ITEM THROUGH ADVANCE LICENCE NO DUTY APPLICABLE .
OTHERWISE DUTY WILL BE :
27.12%
MORE INFORMATION REGARDING DUTY LINK :
http://www.cybex.in/indian-custom-duty/Stone-Duty-Calculator-68029900.aspx
AFTER GETTING THIS LICENCE YOU WILL BE ADMISSIBLE CHAPTER-3 AND DRAWBACK INCENTIVE TOO.
OTHERWISE DUTY WILL BE :
27.12%
MORE INFORMATION REGARDING DUTY LINK :
http://www.cybex.in/indian-custom-duty/Stone-Duty-Calculator-68029900.aspx
AFTER GETTING THIS LICENCE YOU WILL BE ADMISSIBLE CHAPTER-3 AND DRAWBACK INCENTIVE TOO.
20 January 2012
thank you for your great help to me.
Can you please let me know about that Advanced Licence.
Rules and procedure of Advanced Licence.
whether it will be applicable to us or not.
We pay i.e we bought it (import) from south african materials.
and in return we sends it to belgium party.
two party are different. can you please help me to know this that we can be benefited from advance licence.
Can you please let me know about that Advanced Licence.
Rules and procedure of Advanced Licence.
whether it will be applicable to us or not.
We pay i.e we bought it (import) from south african materials.
and in return we sends it to belgium party.
two party are different. can you please help me to know this that we can be benefited from advance licence.
20 January 2012
thank you for your great help to me.
Can you please let me know about that Advanced Licence.
Rules and procedure of Advanced Licence.
whether it will be applicable to us or not.
We pay i.e we bought it (import) from south african materials.
and in return we sends it to belgium party.
two party are different. can you please help me to know this that we can be benefited from advance licence.
Can you please let me know about that Advanced Licence.
Rules and procedure of Advanced Licence.
whether it will be applicable to us or not.
We pay i.e we bought it (import) from south african materials.
and in return we sends it to belgium party.
two party are different. can you please help me to know this that we can be benefited from advance licence.
20 January 2012
YOU CAN ADMISSIBLE.
An Advance Licence is issued to allow duty free import of inputs, which are physically incorporated in the export product (making normal allowance for wastage). In addition, fuel, oil, energy, catalysts etc. which are consumed in the course of their use to obtain the export product, may also be allowed under the scheme.
Duty free import of mandatory spares upto 10% of the CIF value of the licence which are required to be exported/ supplied with the resultant product may also be allowed under Advance Licence.
Advance Licences are issued on the basis of the inputs and export items given under SION.
However, they can also be issued on the basis of Adhoc norms or self declared norms as per para 4.7 of Handbook.
Advance Licence can be issued for:-
a)
Physical exports:- Advance Licence may be issued for physical exports including exports to SEZ to a manufacturer exporter or merchant exporter tied to supporting manufacturer(s) for import of inputs required for the export product.
b)
Intermediate supplies:- Advance Licence may be issued for intermediate supply to a manufacturer-exporter for the import of inputs required in the manufacture of goods to be supplied to the ultimate exporter/deemed exporter holding another Advance Licence
c)
Deemed exports:- Advance Licence can be issued for deemed export to the main contractor for import of inputs required in the manufacture of goods to be supplied to the categories mentioned in paragraph 8.2 (b), (c), (d) (e) (f),(g) (i) and (j) of the Policy.
In addition, in respect of supply of goods to specified projects mentioned in paragraph 8.2 (d) (e) (f), (g) and (j) of the Policy, an Advance Licence for deemed export can also be availed by the sub-contractor of the main contractor to such project provided the name of the sub contractor(s) appears in the main contract.
MORE INFORMATION LINK ARE:
https://www.caclubindia.com/share_files/advance-licence-regarding-information--44526.asp
http://pib.nic.in/archieve/ForeignTradePolicy/ForeignTradePolicy.pdf
An Advance Licence is issued to allow duty free import of inputs, which are physically incorporated in the export product (making normal allowance for wastage). In addition, fuel, oil, energy, catalysts etc. which are consumed in the course of their use to obtain the export product, may also be allowed under the scheme.
Duty free import of mandatory spares upto 10% of the CIF value of the licence which are required to be exported/ supplied with the resultant product may also be allowed under Advance Licence.
Advance Licences are issued on the basis of the inputs and export items given under SION.
However, they can also be issued on the basis of Adhoc norms or self declared norms as per para 4.7 of Handbook.
Advance Licence can be issued for:-
a)
Physical exports:- Advance Licence may be issued for physical exports including exports to SEZ to a manufacturer exporter or merchant exporter tied to supporting manufacturer(s) for import of inputs required for the export product.
b)
Intermediate supplies:- Advance Licence may be issued for intermediate supply to a manufacturer-exporter for the import of inputs required in the manufacture of goods to be supplied to the ultimate exporter/deemed exporter holding another Advance Licence
c)
Deemed exports:- Advance Licence can be issued for deemed export to the main contractor for import of inputs required in the manufacture of goods to be supplied to the categories mentioned in paragraph 8.2 (b), (c), (d) (e) (f),(g) (i) and (j) of the Policy.
In addition, in respect of supply of goods to specified projects mentioned in paragraph 8.2 (d) (e) (f), (g) and (j) of the Policy, an Advance Licence for deemed export can also be availed by the sub-contractor of the main contractor to such project provided the name of the sub contractor(s) appears in the main contract.
MORE INFORMATION LINK ARE:
https://www.caclubindia.com/share_files/advance-licence-regarding-information--44526.asp
http://pib.nic.in/archieve/ForeignTradePolicy/ForeignTradePolicy.pdf
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